FORM FY 2020 Earnings Report — FormFactor, Inc. Revenue & Financial Results | Market Cap Arena

FormFactor, Inc.FORM

FY 2020 Earnings

Reported February 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$694M	—	$589M	—	17.7%
Op. Income	$84M	—	$50M	—	68.7%
Gross Margin	41.5%	—	40.3%	—	1.2pp
Net Margin	11.3%	—	6.7%	—	4.6pp
EPS (Diluted)	$0.99	—	$0.51	—	94.1%
Free Cash Flow	$113M	—	$100M	—	13.2%

Revenue Flow

Item	Amount
REVENUE	$694M
Cost of Revenue	$406M
GROSS PROFIT	$288M
R&D Expenses	$89M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$115M
Other Expenses	$0
Operating Expenses	$204M
Cost & Expenses	$610M
OPERATING INCOME	$84M
Interest Income	$2M
Interest Expense	$864.0K
Other Income/Expenses	$1M
INCOME BEFORE TAX	$85M
Income Tax Expense	$7M
Net Income from Continuing Ops	$79M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$79M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$79M
D&A	$49M
EBIT	$86M
EBITDA	$135M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$694M
Cost of Revenue	$406M
GROSS PROFIT	$288M
R&D Expenses	$89M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$115M
Other Expenses	$0
Operating Expenses	$204M
Cost & Expenses	$610M
OPERATING INCOME	$84M
Interest Income	$2M
Interest Expense	$864.0K
Other Income/Expenses	$1M
INCOME BEFORE TAX	$85M
Income Tax Expense	$7M
Net Income from Continuing Ops	$79M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$79M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$79M
D&A	$49M
EBIT	$86M
EBITDA	$135M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$79M
Depreciation & Amortization	$49M
Stock-Based Compensation	$24M
Deferred Income Tax	-$562.0K
Other Non-Cash Items	$17M
Change in Working Capital	$2M
OPERATING CASH FLOW	$169M
Capital Expenditure	-$56M
Acquisitions (Net)	-$52M
Purchases of Investments	-$51M
Sales/Maturities of Investments	$60M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$99M
Net Debt Issuance	-$25M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$16M
NET CASH FROM FINANCING	-$31M
FREE CASH FLOW	$113M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$187M
Short-Term Investments	$68M
Net Receivables	$108M
Inventory	$99M
Other Current Assets	$2M
TOTAL CURRENT ASSETS	$487M
PP&E (Net)	$135M
Goodwill	$213M
Intangible Assets	$59M
Long-Term Investments	$0
Tax Assets	$66M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$476M
TOTAL ASSETS	$963M
Account Payables	$62M
Short-Term Debt	$10M
Deferred Revenue	$21M
Other Current Liabilities	$15M
TOTAL CURRENT LIABILITIES	$155M
Long-Term Debt	$25M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$65M
TOTAL LIABILITIES	$219M
Common Stock	$78.0K
Additional Paid-In Capital	$904M
Retained Earnings	-$166M
Treasury Stock	$0
Accum. Other Comp. Income	$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$744M
Minority Interest	$0
TOTAL EQUITY	$744M
TOTAL LIABILITIES & EQUITY	$963M
Total Debt	$69M
Net Debt	-$118M